Award Name/Title: Student Essay Contest

Amount: Various

Application Status: Closed

Application Due Date: June 01, 2021

Awards Details:

2021 Essay Contest 

 The Ideas of Joseph Schumpeter: Exploring the Concept of Creative Destruction

The COVID-19 pandemic created economic disruptions in 2020, forcing many businesses and entrepreneurs worldwide to rethink how they provided goods and services including things like meal delivery by drone to the expansion of on-line learning platforms. While the pandemic will certainly not be permanent, some businesses and industries have closed their doors permanently, while others have innovated and flourished under the new measures to meet changing consumer demand.

The economist Joseph A. Schumpeter, author of the 1942 book, Capitalism, Socialism and Democracy, is best known for popularizing the term “creative destruction” to describe the entrepreneurial process where, as new innovations arise, the old way of doing things often dies off as a result. This evolutionary process, he asserted, was essential to understanding capitalism.

Construct an essay exploring the importance of Joseph Schumpeter’s concept of creative destruction in understanding entrepreneurialism and economic progress in today’s world. Entrants may choose to analyze a particular industry or business (during any time-period) as a case study to bolster their essay.

For more information and to apply, please visit: https://www.fraserinstitute.org/education-programs/west/students/essay-contest

There is no Application Form need to be downloaded.